The USDA Section 502 Guaranteed Loan Program is a U.S. Department of Agriculture (USDA) initiative to support rural housing, repairs, construction, and community development for low- and moderate-income households.
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The USDA Section 502 Guaranteed Loan Program provides affordable financing options and support to residents in eligible rural areas. These programs are aimed at improving access to housing, repairing or upgrading homes, and fostering economic growth in underserved communities.
The USDA Section 502 Guaranteed Loan Program is backed by the USDA and includes features such as low-interest loans, grant opportunities, flexible eligibility standards, and a focus on long-term community resilience.
Must be a U.S. citizen or qualified non-citizen
Must meet USDA income and location requirements
Property must be located in an eligible rural area
Must demonstrate repayment ability
Some programs require ownership and occupancy
Low or no down payment required
Below-market interest rates and favorable terms
Opportunities for both individuals and developers
Grants available for home repairs and preservation
Promotes rural economic and housing sustainability
Confirm property is in an eligible rural area
Review income and credit requirements
Contact USDA Rural Development or approved lender
Complete and submit required application forms
Underwriting, approval, and closing process
Program availability, terms, and requirements may vary by lender and location. Additionally, programs are subject to change based on policy updates and market conditions. Always consult with a mortgage professional for the most current information and to determine eligibility for specific programs. The information provided on this website is for general informational purposes only and does not constitute financial, legal, or professional advice.